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The Journal Sentinel's Business Blogs section reported on February 12, 2010 that Jay Hollis, former operator of the Rosebud Cinema Drafthouse is interested in purchasing the Paradise Theatre in West Allis, Wisconsin.
Former Rosebud Cinema Drafthouse operator Jay Hollis tells me he's looking at buying the West Allis building that once housed Paradise Theater.
Hollis said the building owner, Bank of Chilton, had accepted his purchase offer. But that agreement expired this past Monday.
Hollis said he asked the bank, which acquired the building through foreclosure, for additional time to conduct his due diligence on the property, 6229 W. Greenfield Ave. The bank, however, wanted a $5,000 non-refundable deposit to extend that period, which Hollis didn't want to provide.
Hollis said he needs more time so his prospective contractor can create more specific cost estimates on restoring the cinema, which was most recently used as a storefront church. He said those estimates are needed to line up financing.
Click the Read link below to view the full article.
The Paradise has been closed since 1996 when it ceased showing classic movies.
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